Stoneridge Investment Partners LLC Sells 70,362 Shares of General Motors (NYSE:GM)

Stoneridge Investment Partners LLC reduced its stake in General Motors (NYSE:GM) (TSE:GMM.U) by 39.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 108,081 shares of the auto manufacturer’s stock after selling 70,362 shares during the quarter. General Motors comprises approximately 2.1% of Stoneridge Investment Partners LLC’s holdings, making the stock its 12th largest position. Stoneridge Investment Partners LLC’s holdings in General Motors were worth $5,757,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Blue Trust Inc. boosted its holdings in General Motors by 19.7% in the fourth quarter. Blue Trust Inc. now owns 9,164 shares of the auto manufacturer’s stock worth $488,000 after acquiring an additional 1,510 shares in the last quarter. Chicago Partners Investment Group LLC raised its position in shares of General Motors by 15.9% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 11,382 shares of the auto manufacturer’s stock worth $510,000 after purchasing an additional 1,559 shares during the last quarter. Donald Smith & CO. Inc. boosted its stake in General Motors by 12.1% in the 3rd quarter. Donald Smith & CO. Inc. now owns 1,629,573 shares of the auto manufacturer’s stock worth $73,070,000 after purchasing an additional 175,860 shares in the last quarter. Foster & Motley Inc. grew its position in General Motors by 121.5% during the 3rd quarter. Foster & Motley Inc. now owns 47,169 shares of the auto manufacturer’s stock valued at $2,115,000 after purchasing an additional 25,869 shares during the last quarter. Finally, Olstein Capital Management L.P. lifted its stake in shares of General Motors by 14.9% in the third quarter. Olstein Capital Management L.P. now owns 162,000 shares of the auto manufacturer’s stock worth $7,264,000 after buying an additional 21,000 shares in the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Insider Transactions at General Motors

In other news, EVP Craig B. Glidden sold 383,142 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $56.63, for a total transaction of $21,697,331.46. Following the completion of the transaction, the executive vice president now directly owns 122,465 shares in the company, valued at approximately $6,935,192.95. This represents a 75.78 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Rory Harvey sold 8,919 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $60.01, for a total transaction of $535,229.19. Following the completion of the transaction, the executive vice president now directly owns 8,513 shares of the company’s stock, valued at approximately $510,865.13. This trade represents a 51.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

General Motors Trading Down 1.2 %

Shares of NYSE:GM opened at $47.35 on Friday. General Motors has a 12-month low of $37.83 and a 12-month high of $61.24. The company has a market cap of $47.12 billion, a PE ratio of 7.70, a price-to-earnings-growth ratio of 0.68 and a beta of 1.40. The stock has a 50 day moving average of $51.80 and a 200 day moving average of $49.90. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 1.38.

General Motors (NYSE:GM) (TSE:GMM.U) last issued its quarterly earnings results on Tuesday, January 28th. The auto manufacturer reported $1.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.75 by $0.17. General Motors had a return on equity of 15.29% and a net margin of 3.21%. As a group, equities research analysts expect that General Motors will post 11.28 EPS for the current year.

General Motors Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Friday, March 7th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend is Friday, March 7th. General Motors’s dividend payout ratio (DPR) is currently 7.80%.

Analysts Set New Price Targets

Several brokerages recently weighed in on GM. Royal Bank of Canada raised their price target on shares of General Motors from $58.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. HSBC lowered General Motors from a “buy” rating to a “hold” rating and set a $58.00 target price for the company. in a report on Wednesday, December 11th. Sanford C. Bernstein increased their price objective on General Motors from $53.00 to $55.00 and gave the company a “market perform” rating in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft upgraded General Motors from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $56.00 to $60.00 in a report on Tuesday, January 21st. Finally, Barclays upped their target price on shares of General Motors from $64.00 to $70.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, General Motors has a consensus rating of “Hold” and a consensus price target of $61.28.

About General Motors

General Motors Company designs, builds, and sells trucks, crossovers, cars, and automobile parts; and provide software-enabled services and subscriptions worldwide. The company operates through GM North America, GM International, Cruise, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Baojun, and Wuling brand names.